NIFTY has hit first entry trigger on the next short trade at 4838.340, stop is at 5065.80. The add on entry now is at 5010.35 but will have the same stop. On the next round of weakness Nifty will complete its bear move on the weekly charts, but since the monthly is non trending we might see many whipsaw trades in the coming months.
Even ICICI Bank has hit first trigger on the short entry. Volumes are dropping as the price is approaching the value zone it is an indication that there are lesser buyers at higher levels. Since market is in the last stages of bear phase on the weekly, exits should be perfectly planned.
Ne high. New lows have almost equaled showing that the market is indecisive, it will take a few session to take direction and mostly it should be on the bearish side depending on the result season.
Our ARVIND call based on the Big Money channel has made strong runs today, the stock has almost made 105 of gains from the entry levels in three trading sessions. Today there are no BMC stocks and volume toppers too do not show much promise.
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